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Aurania Announces Amended Terms for Private Placement and Debt Settlement; Agreement Complete for Payment of Mineral Properties in Ecuador
Toronto, Ontario--(Newsfile Corp. - November 25, 2024) - Aurania Resources Ltd. (TSXV: ARU) (OTC...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Announces Amended Terms for Private Placement and Debt Settlement; Agreement Complete for Payment of Mineral Properties in EcuadorToronto, Ontario--(Newsfile Corp. - November 25, 2024) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (\"Aurania\" or the \"Company\") announces revised pricing for its previously disclosed non-brokered private placement financing, initially announced on November 13, 2024.Under the amended terms, the Company intends to issue up to 8,888,888 units (the \"Units\") at a price of C$0.45 per Unit (the \"Issue Price\"), for gross proceeds of up to C$4,000,000 (the \"Offering\"). Each Unit will consist of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to purchase one Common Share (a \"Warrant Share\") at an exercise price of C$0.75 for a period of 24 months following the closing of the Offering.The Company retains the option to increase the size of the Offering by up to 25%, allowing for the issuance of an additional 2,222,222 Units to raise up to an extra C$1,000,000.Use of ProceedsThe Company intends to use the net proceeds raised from the Offering for exploration in France including impact studies, exploration programs at key targets in Ecuador, and for general working capital purposes.FindersIn connection with the Offering, the Company may pay finders' fees to certain eligible finders of up to 7% in cash of the gross proceeds raised in the Offering from subscribers introduced to the Company by such finders and up to 7% in finders warrants (the \"Finder Warrants\") of the aggregate number of Units placed by such finders, subject to the approval of the TSXV. Each Finder Warrant will entitle the holder thereof to purchase one (1) Unit at the Issue Price and will be exercisable for a period of 24 months from the closing of the Offering. Each Finder Warrant will be comprised of one Common Share and one Warrant.Subscription ProcedureExisting shareholders and other investors interested in subscribing to the Offering should register their interest via email to [email protected] and Hold PeriodClosing of the Offering is anticipated to be completed on or about December 10, 2024, or such other date or dates that the Company may determine and may close in tranches. Closing is subje...